Securitization

Flagstar Bank has closed on the sale of a $474 million portfolio of non-insured non-performing residential first mortgages.

While the investment opportunities in the nonagency RMBS space are not what they were in 2008, there is still opportunity there, executives at an internally managed real estate investment trust investing in nonagency and agency RMBS told attendees at a REIT conference in New York.

Dismal home sales figures to be released by Mexican research company Softec are sure to hit construction-loan securitizations, according a report by Moody’s Investors Service. The firm will project a 12% drop for 2010 in a report due to be released over the next few weeks.

Walter Investment Management Corp., Tampa, Fla., has priced a private placement of RMBS notes to be issued by Mid-State Capital Trust 2010-1.

The unemployment rate has been one of the best ways to predict the trajectory of ABS consumer credit losses seen in the most recent and past recessions.

Delinquences on commercial real estate loan CDOs declined slightly in October as more lenders stretched out the maturities of loans backing these securities, according to the latest index results from Fitch Ratings.

The White House announced Friday that it intends to nominate Joseph Smith, the commissioner of banks for North Carolina, as director of the Federal Housing Finance Agency (FHFA).

House and Senate appropriators allotted $150 million for the Federal Housing Administration (FHA) reverse mortgage program but now it appears those credit subsidy funds won’t be needed because of the new FHA Home Equity Conversion Mortgage (HECM) Saver program.

Market estimates of cumulative losses of $400 billion at Fannie Mae and Freddie Mac are "overly pessimistic," declared analysts at Keefe, Bruyette & Woods (KBW).

Impac Mortgage Holdings, a former Alt-A giant that survived both the housing bubble and a NYSE delisting, has launched a new wholesale division, promising the industry "pipeline transparency" and "industry innovation."

The American Securitization Forum (ASF) reiterated its support for retention requirements tailored to different securitized asset classes to regulators.

As the chief executive of Royal Bank of Canada's U.S. wealth management business, John Taft works in Minneapolis and reports to Toronto. But now, as a leading voice of the securities industry lobby, he will be devoting much more of his time to Washington.

The growing amount of cash that MBIA expects to see in the coming years from mortgage loan putbacks could boost the company’s balance sheet by billions of dollars, according to a third-quarter earnings conference call Wednesday.

Eversholt Funding Plc (EFP), the new whole business securitization program issued by HSBC Bank's Eversholt Rail Group, is looking to launch a multi-currency senior secured bond program.

Despite the primary markets somewhat opening and previously retained offerings being placed in 2010, the overhang of retained securitized debt stayed significant, according to the quarterly report, according to a report from the Association for Financial Markets in Europe (AFME) and the European Securitization Forum (ESF).

LECG XPRT and NewOak Capital have announced an affiliate relationship to provide a broader scope of services to the financial services industry.

Credit Suisse is marketing a €1.5 billion ($2.05 billion) covered bond, marking the bank's debut into this European sector.

Moody's Investors Service weighed in on the widespread foreclosure-document problems with a report Wednesday questioning whether custodians followed industry standards in tracking and holding original mortgage notes in their files.

Citigroup, an active seller of nonperforming residential loans, recently sold a $1.4 billion pool of multifamily and commercial mortgages to OneWest Bank, Pasadena, Calif., for an undisclosed sum.

Regulators are close to the final version of the implementation of minimum due diligence requirements under the European Capital Requirements Directive Rule 122A.